Israel's Polished Diamond Exports -22% in 2012

RAPAPORT... Israel’s polished diamond exports fell 23 percent year on year to $5.56 billion in 2012, the ‎Israel Ministry of Industry, Trade and Labor reported. ‎

Shmuel Mordechai, Israel’s diamond comptroller, noted that the negative trend was ‎strongest in the first half of the year, while trading improved from August forward. He added that ‎barring any global crisis, Israel diamond trade should continue to improve in 2013 and ‎return to levels attained in 2011. ‎

Mordechai noted that Israel’s exports to the U.S., its largest market, were at their lowest point in ‎years.‎ Polished exports to the U.S. fell 27 percent to $2.04 billion in 2012, while polished exports ‎to Hong Kong declined 16 percent to $1.59 billion.‎